Being a business owner isn’t all plain sailing, it has its ups and downs.
Which means sometimes it can be difficult to stay motivated.
Especially when things might not be going to plan, or you’ve been working flat out, and you feel like you’re making little to no progress.
Often, we are too busy and too focused on keeping our team happy to consider our own goals and happiness.
And if you don’t spend some time focusing on your own happiness, then you can lose track of where you want to take your practice, fall behind on targets and stop innovating and driving your practice forwards.
It’s also means the less motivated you are… the less motivated the rest of your team will be.
So, if you’re a practice owner who’s lacking a motivation boost or has perhaps lost sight of why you do what you do then I suggest you read on.
Because here are 5 ways to stay motivated when running your practice…
1. Know your why
I’m sure as a practice owner you are aware of deadlines that need to be met and the work that needs to be completed each day.
But thinking about the bigger picture… why do you do what you do and why do you turn up to the practice every day?
Everyone will have a different reason, whether it be:
- All about personal satisfaction of helping clients improve their lives and their businesses
- About having independence and freedom to make your own decisions
- Or even financial autonomy
Whatever the reason may be, it’s important that you identify it and regularly remind yourself why you’re doing what you do.
So, take a step back, sit down and have a think about the reasons you decided to become a practice owner.
Because when the going gets tough (which it does – that’s life) knowing your ‘why’ can be the motivation boost you need to get through.
2. Set personal goals & targets
Setting goals for your business is really important and could even be the missing piece to success for your accountancy practice.
It is a powerful process for visualising your ideal future and motivating yourself to make it a reality.
So, it’s really important that you set yourself short and long term targets.
Some of these could be to:
- Have at least 4 family holidays a year
- Have every Friday off work
- Attend courses or learn new skills
Rather than be motivated purely by your practice’s efficiency and success, it will be incredibly powerful to find motivation from ticking off personal goals as a result of those successes.
Here’s an example.
One of your personal goals could be to no longer work Fridays so you can spend it with your family or playing golf with friends.
And in order to achieve this goal you need to successfully manage your time and delegate effectively.
Without that particular personal goal set, you are less likely to manage your time or work for that freedom.
Which will mean you’ll continue to work on Fridays and the lack of freedom will be demotivating.
3. Keep your goals visible
Once you’ve established why you do what you do, and what you want to achieve it’s important to keep those goals in the forefront of your mind.
Because the moment you start losing sight of them, your motivation can take a huge hit.
And a good way to do this is by having visual markers around your office or home.
It could be something as simple as having a team goal and target board up in the office – which you can revisit weekly/monthly and all contribute to.
Or a simple whiteboard to track KPI’s and other numerical targets.
You can even display your practice vision on the walls or your computer desktop.
By keeping your goals and vision visible you are less likely to drift off course and they can provide both you and your team with a surprisingly powerful motivation boost.
Goal-setting shouldn’t be a one-off event, it is a continuous process.
4. Do what you enjoy, delegate what you don’t
Whatever the reason you became a practice owner was, I can guarantee it’s related on some level to freedom.
Having the freedom to control how you work, when you work and what you work on.
Now everyone has some specific things they absolutely HATE doing.
I myself have plenty…
And rather than force myself to do them and make myself miserable I simply delegate them to someone else so I can focus on tasks and responsibilities I enjoy doing.
Now I don’t just mean that you should pass-the-buck when things get a little complicated.
This involves sitting down properly and identifying tasks that don’t specifically need doing by you and creating a delegation plan. (You can find a 6-step plan for doing so here)
Because the more low-level or disliked tasks you delegate the greater your satisfaction will be, and ultimately the more time you’ll have for working on driving your practice forwards and achieving your personal goals.
5. Surround yourself with motivators
Many practice owners focus their attention on maintaining a happy team and can often forget about their own motivation levels.
See, the happiness of you and your team are intrinsically linked.
If you are happy and motivated, it’s more likely your team will be too, and vice versa.
But what do you do if you have a team member who is happy and good at their job, but brings everyone else’s (including your own) morale down?
Well the short and blunt answer is to get rid of them.
Your team all need to be on the same page, and if you find a team member de-motivating then they aren’t A+ and probably need to go.
To make sure I have a team consisting of all A+ members I use something called the A+ Formula. You can find out how to use this to create a winning team here.
As the saying goes ‘One bad apple can spoil the whole cart’ so eliminating these bad apples can have a powerful impact on both you and your team.
What lifestyle do you want?
You’ve worked hard to build your practice and get yourself where you are.
So, it’s important that you can reap the rewards of that time and effort and live the lifestyle you want.
Because if you aren’t doing so, then there’s a high chance that your motivation will be suffering.
And with that, your practice AND personal development.
So, ask yourself, are you a satisfied and motivated practice owner?
If the answer is no, then now’s the time to act.
The ball is in your court.